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February 23rd, 2021: SP-500 Chart Update

Posted by pugsma on February 23, 2021

3:15 pm EST: I wanted to make sure that I got this important SP-500 chart update out well before the close today. This area around the 3871 pivot and 3885 H&S neckline is very important. It’s also the 50% Fib retrace of the drop from the 3950 high to today’s 3805. If the bulls can close above this 3871 to 3885 area in the next day or two, it opens the door to new highs above 3950 per the primary (white/green) wave count. A failure at the 3871 to 3885 area and in opens the door for a drop below today 3805 low per the alternate (red) wave count.

SP-500 15-min chart:

SP500 Technical Analysis

SP-500 60-mi chart:

SP500 Technical Analysis

SP-500 4-hr chart:

SP500 Technical Analysis

SP-500 daily chart:

SP500 Technical Analysis

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